What is the Real Cost of Living in Carefree, AZ?

A small town surrounded by the Sonoran Desert, Carefree is an excellent area for those looking for a home just outside of Phoenix. Homes in this area are surrounded by some of Arizona’s greatest attractions, including the Sonoran desert, the famous saguaro cactus, and high-end golf courses. So, how does this small city compare to the surrounding larger cities in the greater Phoenix area? Let’s take a look at the cost of living in Carefree, AZ.

As the prices of homes continue to increase nationwide due to inflation, more people are choosing to rent instead of buy. In Phoenix specifically, it is currently cheaper to rent than to buy a home. The average rent in Maricopa County in 2022 was $1,562. The average rent in Carefree is slightly lower at $1,319. This makes sense, given that the smaller town has less of a demand for housing than its neighboring cities of Phoenix and Scottsdale.

The city of Carefree has more homeowners than renters. This is an outlier to the rest of the nation, as more people around the country are choosing to rent instead. In 2020, the homeownership rate in Carefree was over 85%. This makes sense, given that the median age of residents in the town is 69. This is a significant difference from the median age of Phoenix residents, which is about 34 years of age.

Carefree saw a steady decline in the price of homes in 2022. Prices started rising again slightly at the beginning of this year, and prices of homes have decreased since March of 2023. The median price of a home in Carefree in June 2023 is $1.59 million, a slight decline from May’s median price of $1.61 million.

Air conditioning is a must in Arizona, especially during the summer when the average temperatures reach over 100 degrees Fahrenheit. The average energy bill in Carefree is $181.59. This is higher than the statewide average of $131.35. Other costs to include are internet and phone bills. The average cost of a phone plan in the Phoenix area is about $60, while the internet costs are closer to $80. Carefree specifically has an average phone bill cost of $195. Of course, there may be options to bundle phone and internet plans to cut these costs, depending on the provider. While these costs are more expensive than the U.S. average costs, it is typical for smaller cities to have higher prices to meet the demand of the area.

Groceries in Carefree are typically more expensive in this area, with most prices above the national average. The price of a loaf of bread in Carefree costs about twice as much as the average price, sitting at $3.86 (the national average in May 2023 for the U.S. was $1.95). A carton of eggs is slightly cheaper than the national average by about 40 cents. A gallon of milk in Carefree costs around $4, which is about half the price of the national average.

The average cost of a meal out in Carefree can range from around $11 to $26, depending on the restaurant of choice. The average price of a meal out in the U.S. is around $20, so there is not much of a price difference living in Carefree.

The monthly cost of groceries nationwide for a family of four is around $1,300 for a moderate budget. The average cost of groceries in Carefree per month for the same amount of people is around $751, which is lower than the U.S. average.

More than 87% of people in Carefree commute to work. The average commute time in the greater Phoenix area is 26 minutes. The average commute time in Carefree is just over 28 minutes. This small town only has a few gas stations nearby, with the average price of gas being $4.60 per gallon, which is above the current national average price of $3.84 per gallon.

Valley Metro is the most common public transportation in the Phoenix area, but in this case, there are no transit stations located in Carefree. However, there are rideshare and taxi options such as Uber, Lyft, and Scottsdale Cab Company. The average rideshare cost to get across town is around $15. Taxi rides are about twice the cost at around $29, taking the same route.

While there are rideshare options and taxi services in town, those transportation costs can add up quickly. It is best to be prepared and plan on having a car if you move to this area, especially if you need to commute to one of the bigger cities nearby.

The average hourly wage in Carefree is around $19. This adds up to just over $40,000 per year. In 2020, the city reported a growth in the median household income at $112,768. The average hourly wage in the greater Phoenix area was $28.86 in 2022, which was below the national average of $29.76. While income does depend greatly on the career type, it is helpful to look at these numbers to compare them to trends in other nearby areas. Since rent is cheaper in Carefree than in Phoenix, it makes sense that the hourly wage will be slightly lower outside of the capital city.

Even though Arizona’s cost of living is mostly higher than the national average, there are many benefits to living in the Grand Canyon state. The proximity to nature and the variety of options to accommodate lifestyles make it a great place for anyone. Home to the nation’s most innovative college and named one of the greatest areas for retirement, there is a place in Arizona for anyone and everyone.

If you are ready to escape the buzz of the big city and want to enjoy life at a more leisurely pace, then Carefree may be the place for you. The city certainly lives up to its name with a small population and a rich history. The Falkner Cohen Group is a local expert team who lives in the area and know all the best, up-to-date information regarding housing trends in Carefree. For the best information on homes for sale in Carefree, AZ, contact the Falkner Cohen Group today.